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(January 06, 2017)
ALBANY, New York, January 6, 2017 /PRNewswire/ --
Transparency Market Research has released a new market report titled "Butane Gas Cartridges Market (Application and Region) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast -- 2016-2024." According to this report, the butane gas cartridges market was valued at US$ 364.55 Mn in 2015 and is projected to reach US$ 555.24 Mn by 2024, at a CAGR of 4.73% from 2016 to 2024.
Butane gas cartridge is one of the most efficient ways of storing fuel. Growing demand for portable fuel storage solutions globally can be considered as one of the major drivers of the butane gas cartridges market. Gas cartridges generally comprise a mixture of propane and butane contained under high pressures. Gas cartridges are generally made of metal for better storage functions. Furthermore, only butane gas equipped cartridges are also available in the market. Some of the major advantages butane gas cartridges provide to end users include their highly portable nature and light weight. Another coveted quality of butane gas cartridges include the ability to effectively monitor and control the flame, which dismisses multiple safety concerns surrounding these devices. The pressure in the butane gas cartridges is generally released by opening of a stove valve. Generally gas fuels are being preferred over liquid fuel cartridges owing to less weight and gas fuels burns cleaner than liquid or solid fuels.
Individual specific customers constitute more than 50% share of the market and a majority of demand comes from the sale of butane gas cartridge-integrated stoves. Low initial investment required for production of aerosol cans and filling of compressed butane gas makes the market lucrative for even small players. However, the demand for butane gas in several applications has increased which has resulted in high volume consumption of the gas. Butane gas cartridges are suitable for portable needs where the consumption volume is limited. This has resulted in moderate growth of butane gas cartridges when compared to butane gas cylinders.
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The butane gas cartridges market has been segmented into two categories: application and region. In terms of application, the butane gas cartridges market has been classified into medical, pest control & fumigation, stoves, food & beverage, and others (Metal Working, Plastic Industry etc.). In terms of revenue, butane gas stoves held the largest share (more than 50%), in 2015. Stoves is the highly attractive application segment of the butane gas cartridges market. Small traders and distributors are actively selling integrated butane gas cartridges stoves to individual customers. Over 25% butane gas cartridges is sold through e-stores and 85% is sold directly through wholesalers
Growing demand for portable energy storage systems such as butane gas stoves for outdoor activities such as picnic, camping, and others have boosted the sales of butane gas cartridges, globally. Demand for butane fired blow torches is increasing in dentistry, surgery, optometry, and pharmacy. This has boosted the demand for butane gas cartridges in medical applications. Thus, rise in population and year-on-year increase in number of patients are likely to propel demand for butane gas cartridges in various medical applications.
Demand for portable energy storage systems such as butane gas cartridges in the food & beverage segment is rising due to increasing demand for butane gas torches utilized in meat and fish processing as well as caramelizing sugar which is used in bakery products. Butane gas cartridges are used to power pest control machines and foggers. Growth of pest control services is driven by increasing pest population, attributed to the largely available food sources for small organisms and conducive living habitat. Pest control services has various end-users such as home, offices, schools, warehouses, factories, laboratories, residential, and commercial complexes. Other applications of butane gas cartridges includes metal working i.e., soldering, brazing, softening paint for removal, melting roof tar, and casting before welding. It is also used in melting snow and ice from pavements and driveways in cold climate areas.
Key players in the butane gas cartridges market are expected to benefit from the formation of strategic alliances with global players in the butane gas cartridges market. Prominent players in the butane gas cartridges market are Praxair Technology, Inc., Tae Yang Corporation, Aspire Industries, ULTRACARE PRODUCTS, CEPSA, and others. The butane gas cartridges market has been segmented as follows:
Butane gas cartridges Market: By Application
- Pest Control & Fumigation
- Food & Beverage
- Others (Metal Working, Plastic Industry etc.)
Butane gas cartridges Market: By Region
- North America: U.S., Canada
- Europe: EU5, Russia, Turkey, Rest of Europe
- Asia Pacific: China, India, Japan, ASEAN, Rest of Asia Pacific
- Middle East & Africa: GCC, Iran, North Africa, South Africa, Rest of Middle East & Africa
- Latin America: Brazil, Mexico, Rest of Latin America
Related Research Reports:
- Global Gas Cartridges Market: http://www.transparencymarketresearch.com/gas-cartridges-market.html
- Hybrid Power Systems Market: http://www.transparencymarketresearch.com/hybrid-power-systems-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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